MIRA
INFORM REPORT
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Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AGRY MARINE SERVICES |
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Registered Office : |
Plot No. – 219, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter and Importer of Ships Spare parts, Marine Equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 14000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. – 219, |
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Tel. No.: |
91-2842-285550 |
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Mobile No.: |
91-9998511012 / 9909919150 / 9327285250 (Mr. Gafur Jusab Laiya) |
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Fax No.: |
91-2842-285550 |
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E-Mail : |
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Website : |
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Area : |
1785sq.fts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Jusar Laiya |
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Designation : |
Proprietor |
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Date of Birth/Age : |
53 Years |
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Qualification : |
Non-metric |
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Experience : |
40 Years |
BUSINESS DETAILS
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Line of Business : |
Exporter and Importer of Ships Spare parts, Marine Equipments |
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Products : |
♦
Marine Equipment ♦
Navigation Equipment ♦
All kinds of Ships and Spare parts ♦
All types of Marine Antiques and Marine
Machineries |
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Exports : |
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Products : |
Marine-related equipments |
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Countries : |
Gulf and |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
9 |
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Bankers : |
HDFC Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Y Ramesh Babu and Company Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.500 millions |
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Borrowed : |
- |
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Total : |
Rs.3.500 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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6.000 |
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Expected Sales (2007-08) : Rs.17.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
♦
Merpator Lines Limited, Mumbai
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Binny Ship Management, Mumbai
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Means Private Limited, Mumbai
Company Details:
Marine industry
has gained immense popularity over the years and there are certain equipments
associated with this industry, which form its strong backbone. Taking this into
account, subject markets world class marine equipments making no compromises on the
quality quotient. They are a leading and an eminent exporter and
importer of Marine and Navigation Equipments, all kinds of Ships and Spare Parts, all
types of Marine Antiques and Marine Machineries. Their marine products have created a strong
market base not only in the domestic sector, but also in International markets
including Gulf and European countries. This high popularity is due to the trust
of their customers on them and their experience and expertize in the products
dealt by them. Being a customer oriented corporate entity, they pay detailed
attention to valuable client feedback and suggestions and accordingly procure
products on a worldwide scale as per their requirements. They adhere to their
principles of honest business dealings, commitment towards their clients and
regular introduction of advanced and improved marine products.
Innovative, flawless and unmarred marine products form the hallmark of their
corporate entity. These distinguish them from others in the same domain and
help them in taking a clean sweep over them.
Quality.....Their Distinction
Supreme quality marine products is the buzzword of subject, which is the reason
behind the sustenance and expansion of their clientele. Global level quality
checks are conducted, right from the manufacturing stage till the final product
is ready for delivery. These ensure impeccable and reliable products, leaving
no room for even the slightest of defects. This is the reason; they enjoy an
unmarred repute in this arena.
Subject
because.....
- High degree client satisfaction
- No compromises on the quality of their
marine products
- Ability to surpass the expectations of
their customers, who matter the most to them
- Reputation based on quality,
reliability, integrity and completes understanding of the market dynamics.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.97 |
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1 |
Rs.80.73 |
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Euro |
1 |
Rs.54.56 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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